WASHINGTON – The Financial Services Roundtable (FSR) today praised the House Financial Services Committee for its leadership and passage of bills to optimize the regulatory system to maintain safety and soundness while driving economic growth.

“These bills will help modernize and tailor the financial regulatory system to better serve Americans and drive more robust economic growth here at home,” said FSR’s Head of Government Affairs Anthony Cimino.

Earlier this week, FSR sent letters of support to the Committee highlighting many of the bills under consideration.

In a letter to Rep. Luetkemeyer (R-MO), FSR outlined its support for his Systemic Risk Designation Improvement Act of 2017 (H.R. 3312). This bipartisan legislation would change the current designation method of supervision for banks by replacing the $50 billion asset threshold with business activity standards to determine an institution’s systemic risk.

In a letter to Chairman Hensarling and Ranking Member Waters, FSR thanked the Committee for its continued worked to advance legislation supporting a more effective, innovative and resilient financial sector. To view the letter and additional legislation of note, click here.

FSR looks forward to working with the Committee and members of Congress to move these bills to the President’s desk.

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About The Author

The Financial Services Roundtable represents the largest integrated financial services companies providing banking, insurance, payment and investment products and services to the American consumer. Member companies participate through the Chief Executive Officer and other senior executives nominated by the CEO. FSR member companies provide fuel for America’s economic engine, accounting for $92.7 trillion in managed assets, $1.2 trillion in revenue, and 2.3 million jobs.

FSR is reviewing the tax proposal outlined this week to ensure it increases economic opportunity, creates more good-paying jobs, incentivizes workers to save for retirement, and helps more Americans access important financial products and services.

“This industry provides vitally important services to nearly every American – every day. Affordable access to financial services is key to growing the American economy and fueling the American dream.” -Tim Pawlenty, FSR CEO

Financial Services Roundtable is the leading advocacy organization for America’s financial services industry. For updates, sign up below ↓